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10 Things to Look for in an ITEM (IT Expense Management) Provider

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Managing your IT and Telecom expenses can be frustrating, time consuming and costly, but there are ways to avoid that.

IT asset and expense (ITEM) management helps users and managers alike by simplifying, managing and optimizing orders, offering visibility and control for contracts, inventories, invoices/billing, and IT and Telecom expenses, saving countless hours and millions of dollars per year.

For companies of different sizes and segments, ITEM is a key tool to control the end-to-end contract lifecycle, generating efficiency, cost savings, predictability and innovation for companies.

The following is a list with the 10 points you should always consider when choosing an ITEM provider:

1. Automation – It is at the core of any expense or lifecycle management solution. Make sure Artificial Intelligence (AI) and Robotic Process Automation (RPA) are built into the solution – to speed up processing and identify opportunities to save or maximize efficiency.

2. Global Reach – Will this solution allow you and your business to grow beyond where you are today? Business changes at the speed of light, so you need a platform that provides extensibility across geographies and borders while considering global communication.

3. Usability – With all advances emerging in automation, the right solution should help to guide you along your route to achieve savings. A user-friendly interface, easy information and reports.

4. Features – For any solution you are evaluating, it is crucial that you pay attention to the delivery and performance of IT and Telecom Expense Management (ITEM), and Mobility Management (MDM), 

5. Processes – ITEM solutions start from automating and simplifying the management of orders and expenses. Today, ITEM solutions serve as a platform to support managers and users.

6. Analytics and Reporting – A provider is able to present data at both the macro and micro level. A truly powerful platform will provide in-depth visibility and insights into the decision-making process.

7. Flexibility and Customization – A platform should ideally be able to modify its ITEM solution to meet the company’s unique and ever-changing needs.

8. Ecosystem – A true partner will give you a clearer picture of how your ITEM solutions are integrated. The more integrations, the more automation and, therefore, the more value – turning management into an ecosystem.

9. People – Automation is great, but without the right people with the ability to map your business needs to optimal solutions, you will not be able to extract the value you are looking for. Expert implementation and team training make all the difference in results.

10. Experience – None of the above is worth anything without experience. Your provider should understand your company’s needs, be aware of the market and the solutions available and, above all, know the potential results that can be achieved.

Undoubtedly, if you find a provider that meets these 10 requirements, you will be successful and even achieve a return on the investment made with the partner’s tool and services.